Versamind has been flagged by Autorité des marchés financiers for "Unregistered/Unlicensed entity offering financial products or services". Versamind is not registered with the Autorité des marchés financiers (AMF) and is not authorized to solicit investors in Québec. This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: versamind.io.
The reporting at Versamind is laughably bad. Tax documents are inaccurate, transaction histories have gaps, and trying to export data for your accountant is a nightmare. For a financial platform, getting the numbers right should be the bare minimum.
Pros: Educational resources|Smooth onboarding|Portfolio tracking tools|Personal attention
Cons: Research section could be deeper
After seeing ads for Versamind online, I investigated. The company is listed in the IOSCO I-SCAN warnings database and has been flagged by Autorité des marchés financiers. Their website looks professional but that means nothing - many scam operations invest heavily in appearance. Always check the regulatory warnings before investing.
Pros: Website looks legitimate on the surface
Cons: Flagged by Autorité des marchés financiers|Cannot verify credentials
I joined Versamind through word of mouth in my investment club and from the start, things felt off. The signup process collected far more personal information than necessary, the verification took unreasonably long, and when I finally got access, the platform was nothing like what was advertised.
Pros: Great customer service|Stable platform
Cons: Slow to add new assets
This company appears on the IOSCO I-SCAN international warnings list. Over 68 financial regulators worldwide contribute to this database. While being listed doesn't automatically mean fraud, it's a significant red flag that potential investors should take seriously. Do your research thoroughly.
Cons: Appears in regulatory warnings database|Uncertain regulatory status
My withdrawal from Versamind was rejected three times for vague reasons. Each time they asked for more documents. When I finally provided everything, they said my account was under review. for just over a year of being strung along.
Pros: Social trading features|Comprehensive tools
Cons: Account statements could be more detailed|No fractional shares
Tried to withdraw my funds from Versamind and was told I needed to pay a "withdrawal tax" of 20%. This is a red flag. No legitimate broker charges withdrawal taxes. When I refused, they became aggressive and eventually stopped all communication. My entire investment is gone.
Pros: Initially responsive customer service
Cons: Withdrawal fees demanded|Communication cut off|Not authorized
What really bothers me about Versamind is the disconnect between their marketing and reality. They position themselves as a premium service but deliver a below-average experience. Found them based on a colleague's recommendation and I fell for the polished exterior. Never again.
Pros: Stable platform|Dedicated account manager|Intuitive for beginners|Social trading features
Cons: Some tools only available on higher tiers
The mobile app from Versamind is dangerous. I placed an order that showed as pending, so I placed another. Both executed and I was overexposed. When I complained they said it was user error. The app design is misleading.
Pros: Easy withdrawals|Comprehensive tools
Cons: Desktop app not available on Linux|Nothing significant
Do not be fooled by the professional-looking website. Behind the scenes, Versamind is disorganized and incompetent. I found them through a financial advisor and I can only assume the positive reviews are either outdated or paid for because my experience was terrible.
Pros: Customizable dashboard|Multi-currency support|Transparent fees
Cons: Minimum deposit could be lower|Slow to add new assets
I was contacted by Versamind through social media. They promised guaranteed returns of 20-30% monthly. Being naive, I invested. The "account manager" pressured me to invest more and more. When I finally tried to take profit, my account was frozen and they stopped responding. Classic Ponzi/advance fee fraud.
Cons: Cannot withdraw funds|Not regulated|Pressure tactics